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2017.01.19 17:03
Experts

Original Turtle Rules Trader - expert for MetaTrader 5

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644
Rating:
votes: 12

Original Turtle Rules Trader EA implements a trading system described in the book "The Original Turtle Trading Rules".

According to the description given in the book, the famous Turtle Trader system consists of the following components:

  • Selecting the size of a trading position depending on the current market volatility.
  • Entering the market after the fast or slow Donchian channel breakout.
  • Skipping the second signal following the first successful breakout.
  • Adding new positions.
  • Placing and moving stop orders.
  • Exiting positions.

In full compliance with the description,

  • the system automatically tracks the current market volatility and calculates the optimal trading lot - unit;
  • the algorithm visualizes three Donchian channels on the chart: System 1 and System 2 channels, as well as the fast channel for exiting a position;
  • the EA skips the channel breakout (regardless of its outcome) if a successful trading signal was implemented before that;
  • the algorithm tracks a trade, closes a position after the fast channel breakout or adds positions after specified volatility intervals;
  • the EA sets and moves stops.

Instead of closing trades after the fast channel breakout, the algorithm can use the Parabolic SAR system or simply set a take profit.

Expert Adviser draws tree Donchian channel on a chart

Inputs:

  • Donchian channel for exit breakout - range for building the fast channel (entry channel).
  • Donchian channel for system-1 breakout - range for building the System 1 channel.
  • Donchian channel for system-2 breakout - range for building the System 2 channel.
  • Max. deposit share at risk in one trade - risk per one position as a deposit share.
  • Max. amount of "Units" per symbol - maximum acceptable number of units per symbol.
  • Adding interval (times ATR) - volatility interval for adding positions.
  • Stop loss (times ATR) - volatility interval for placing a stop order.
  • Take profit (times ATR) - volatility interval for placing a take profit
  • Allowable trade slippage - acceptable slippage.
  • Use SAR-system to trail SL - enable/disable Parabolic SAR system.
  • SAR system step - SAR system step.
  • SAR system cap - maximum SAR system step.

Translated from Russian by MetaQuotes Software Corp.
Original code: https://www.mql5.com/ru/code/16866

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